Ho Chi Minh City, once known as Saigon and the capital of South Vietnam, has a vastly different feel from Hanoi. Looking at the ugly 1950s and 60s architecture, it's obvious that the Americans had a strong presence here. Still called Saigon by the locals, it feels much more carefree than stuffy and distant Hanoi, and is almost as wild as sleazy Bangkok. Wonderful markets and curious temples dot this city, and it's a great hub from which to explore the southern part of Vietnam or to enter Cambodia.
There are many pagodas in the city, including the oldest, Giac Lam Pagoda, Giac Vien, and the awesome Emperor of Jade Pagoda. In Cholon, visit Phuoc An Hoi Quan, a colorful and curiously decorated pagoda.
WHAT TO DO:
Visit the market in Cholon, the Chinese section of Saigon. It's a mess, but allows you to see Asia at work. Be sure to book some day trips, such as tours of the Cu Chi Tunnels, the Cao Dai Temple in Tay Ninh, and the Mekong Delta. A good place to book your tours is at the Sinh Café, which also has great food. I'd give you the address but I understand it's moved, so ask around; everyone knows about this place.
WHAT NOT TO DO:
If you are a white man, do not walk around Saigon at night alone. Why? You will be hassled constantly by vendors. A common trick is to have a young woman riding on the back of a motorbike (driven, most likely, by a pimp), grab your arm, promising some nocturnal fun. Most likely, she's trying to steal your watch! I found Saigon to be such hell in the evening I'd stay at a café or at my guesthouse.
WHERE TO EAT:
There are cheap cafés galore that offer Vietnamese and Western fare. The Sinh Café, again, is a great place to eat, and cheap! You will not starve here! For a cheap meal, try one of the sandwiches you'll find anywhere on the street: they are made of a fresh baguette, some sort of paté, and all kinds of veggies, costing you some spare change.
WHERE TO STAY:
Again, I'm not much help here cause places constantly change. Go to the Sinh Café and ask; they also have a guesthouse where you can stay in a cheap dorm. A nice, clean guesthouse with your own bathroom should cost you about $20 a night. Try not to arrive at Saigon in the evening cause it could be an ordeal to find a room.
red-white-and-blue crowd: remember that the North Vietnamese and Viet Cong were hardly innocent of committing atrocities. Saigon's government quarter has several interesting buildings, including the Notre Dame Cathedral and City Hall, built during the French Colonial era.